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Nairaland Forum / Nairaland / General / Business / CBN Raises MPR To 13% From 11.5% (13175 Views)
CBN Raises Benchmark MPR By 200 Basis Points To 24.75% / CBN Raises Interest Rate To 18.75% / CBN Raises Interest Rate To 15.5% To Curb Rising Inflation (2) (3) (4)
Re: CBN Raises MPR To 13% From 11.5% by AbuAeesha: 1:19pm On May 24, 2022 |
if them like,they shud raise it to 100%. we will still survive. heedless pple. |
Re: CBN Raises MPR To 13% From 11.5% by Gental(m): 1:19pm On May 24, 2022 |
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Re: CBN Raises MPR To 13% From 11.5% by LIGHTROOM: 1:19pm On May 24, 2022 |
Buhari and emefiele are the greatest accident that as ever happened in Nigeria history. 2 Likes 2 Shares |
Re: CBN Raises MPR To 13% From 11.5% by wizelink(m): 1:25pm On May 24, 2022 |
If he likes increase it to 100% time is ticking and by this time next year by God's grace we will be preparing to install a newer, God fearing, leader not ruler that will take nigeria to the promise land. I am tired of this stale nepotic ruler that has turn nigeria to headquarters of all evil things 1 Like 2 Shares |
Re: CBN Raises MPR To 13% From 11.5% by Nigerialabalaba: 1:27pm On May 24, 2022 |
Built2last:Olodo, MPR raise na short term monetary instrument to rein in rising inflation. E dey different from fiscal policies. As inflation dey rise so, sensible cbn go raise interest to encourage more people to save and reduce d amount of naira chasing finite goods. school u no go u dey hia dey waste ur life away with idleness. shiorr. With dis una idleness ehn, d suffer wey dey wait for some of una in old age ehn. I no go pity una. Awon lazy empty headed yoots gbogbo. Na only stupid ponzi crypto una brain fit understand. shiorr 8 Likes 2 Shares |
Re: CBN Raises MPR To 13% From 11.5% by bjtinz: 1:30pm On May 24, 2022 |
Lol. Every Emeka, Musa and Tunde forming economist here. See una wide mouth Whether we agree or not, this was the best action for now. All the more crucial as electioneering spending gets into full swing 4 Likes 2 Shares |
Re: CBN Raises MPR To 13% From 11.5% by aieromon(m): 1:35pm On May 24, 2022 |
Nigerialabalaba: The comments on the first page show a high level of ignorance. Very sad. 3 Likes |
Re: CBN Raises MPR To 13% From 11.5% by nomenclature(m): 1:48pm On May 24, 2022 |
lalasticlala:Interest rate of 13 % lol,what a country |
Re: CBN Raises MPR To 13% From 11.5% by anonimi: 1:48pm On May 24, 2022 |
bluefilm: E dey follow you watch blue film? 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by seborrhic: 1:49pm On May 24, 2022 |
Built2last:It's copy,copy CBN monetary policy. They hear the US and Europe have increased interest rate and viam,they do same,not knowing the economic and monetary environment are completely different. Same thing happened with COVID.Despite telling us our COVID rates were constantly less than 1%,the whole nation was still put on lockdown. 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by anonimi: 1:49pm On May 24, 2022 |
nomenclature: ...........of 200 million prayer warriors and owambe life choppers expecting miracles of zero work on public office holders 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by dalass(f): 1:50pm On May 24, 2022 |
johnkay1: No wonder Buhari retained the idiot |
Re: CBN Raises MPR To 13% From 11.5% by Nigerialabalaba: 1:58pm On May 24, 2022 |
aieromon:dem full everywhere o. If u see dem for real life, u go tink say because dey can read, write dem suppose get something upstairs. For where? Dem no get shishi sense!! Dem go school juat to mark attendance and cheat for exams. Na hunger, disgrace, depressions from suffethead go kill dem as dey grow older las las unless dem quit dis dua nonsense unproductive life. Awon unserious lazy olodo yoots 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by Nobody: 1:58pm On May 24, 2022 |
ajerimitan: Those earning in dollars even though they are lucky bunch but they still have to keep up with inflation after exchanging their dollars into naira for local consumption. 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by lomprico(m): 1:59pm On May 24, 2022 |
He wan recover the 100 milla he donted to APC. |
Re: CBN Raises MPR To 13% From 11.5% by unite4real: 2:00pm On May 24, 2022 |
ekenetheorg: The implication here is that if they sell bonds, the rates will be higher, so yes people will be more interested to buy in. 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by Oysters(m): 2:07pm On May 24, 2022 |
ekenetheorg: sheybi they stopped issuing bonds some time ago and said investors should instead use the money for FDI. Or something like that. Nna ehn, this current administration odiegwu 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by BigBizzy(m): 2:15pm On May 24, 2022 |
If you people like don't vote wisely next year...na so e go dey rotten dey go |
Re: CBN Raises MPR To 13% From 11.5% by VEHINTOLAR: 2:16pm On May 24, 2022 |
bluefilm: The CBN wants to reduce the volume of cash in circulation. It is a way of mopping up excess cash in circulation in an attempt to force down down prices of commodities or simply put,to reduce inflation. Inflation basically, is a situation whereby too much cash/money is chasing after few goods which pushes up the prices of these goods. Therefore,to reverse this trend,the CBN will increase rates so as to encourage people to save their excess cash. This can be done in different numbers of ways - FG Bonds,Fixed deposit,Term deposit etc. When MPR is increased,interests payable to those bank customers who have FD,TD or those who buy FG Bonds increase as well. I hope you have an idea now. I hope 6 Likes |
Re: CBN Raises MPR To 13% From 11.5% by Lush100(m): 2:24pm On May 24, 2022 |
This guy should have raised this rate since na. Infact the raise is not even close. Ordinarily, the rate should be close to 15% but because this will affect overall lending rate that's why is wasn't raised much. And I read in punch that it's 13.5% not 13%. According to macroeconomics, interest rate must be higher (close) than inflation rate or else more money will.be chasing fewer goods which will lead to more inflation. The rate should have been increased since last year. If we are to follow the rules , the rate should be increased more but overall lending rate should made to be marginal. Why the rate was high is because no cash was going back into the financial system hence people out a high interest on the few cash they have and money in circulation was too much,that's why u get money easily now but price of goods has increased even within a week Assuming the rate has been increased all this while, They would have mopped up excess cash in circulation and the inflation would have been held back. A stability of the exchange rate will be seen now because less naira will also be available for the constant dollars. @Nigerialabalaba @vehintolar 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by bluefilm: 2:33pm On May 24, 2022 |
VEHINTOLAR: Thank you so much. It was becoming clearer for me until you started talking about FD and TD. |
Re: CBN Raises MPR To 13% From 11.5% by Nigerialabalaba: 2:36pm On May 24, 2022 |
Lush100:You are valid. I go plead make we read d report and how dem each vote to arive at the new rate. U sabi say economics in scenarios like dis no be science, e dey more like art because some of d factors dey outside ur control. For example, election go soon start and historically, e dey impact consumer and corporate spendings .now con add that to external factors like putin's way, rising crude oil price and food. If dey are going to raise am, dem go likely consider these things but d good thing be say na temporary and mpc on its own no dey tell d full story. I get you shah. U get sense 1 Like
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Re: CBN Raises MPR To 13% From 11.5% by membranus: 2:41pm On May 24, 2022 |
bjtinz: Economic policies do not work in Nigeria, and in most poor countries. They only work in an highly organised and honest economy. And not in a bastardised and molested economy like Nigerian. |
Re: CBN Raises MPR To 13% From 11.5% by baralatie(m): 2:44pm On May 24, 2022 |
gbaskiboy:How.does.tyis drive the economy |
Re: CBN Raises MPR To 13% From 11.5% by baralatie(m): 2:50pm On May 24, 2022 |
Interest rate will mean increase in the cost of borrowing Meaning people will be forced to spend less |
Re: CBN Raises MPR To 13% From 11.5% by NamelessOGBENI(m): 2:52pm On May 24, 2022 |
ekenetheorg: 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by Buharidgeneral: 2:54pm On May 24, 2022 |
anonimi:You haven't answer him bros |
Re: CBN Raises MPR To 13% From 11.5% by baralatie(m): 2:55pm On May 24, 2022 |
Lush100:Does.not.work.the way you have put it Increase in interest rate means increase in the cost of borrowing It also means people will spend less to purchase goods and services That can lead to a cooling down of your economic growth. I understand that emiefele wants to bring down inflation but if the nation is finding it difficult to produce. Money will be pursuing less goods |
Re: CBN Raises MPR To 13% From 11.5% by einsteine(m): 2:57pm On May 24, 2022 |
Credit contraction, possible reduction in inflation. Flow of funds from the equities market to fixed income and money markets. |
Re: CBN Raises MPR To 13% From 11.5% by VEHINTOLAR: 3:18pm On May 24, 2022 |
bluefilm: FD - Fixed Deposit TD - Term Deposit. Fixed deposit, also known as an FD, is an investment instrument offered by banks, as well as non-banking financial companies (NBFC) to their customers to help them save money. With an FD account, you can invest a sizeable amount of money at a predetermined rate of interest for a fixed period. Term Deposit is a form of fixed deposit too except that it has shorter investment period. The CBN periodically sends what is known as Rate advisory sheet to all the Deposit Money Banks (Commercial Banks) stating all corresponding rates payable to different categories of funds invested by the banks' customers. The trick is this,if the rate is high,people will be encouraged to deposit their excess cash for save keeping and on the other hands,if the rate is low,it discourages people from investing in any of the aforementioned investment instruments. I hope I try sha ! 2 Likes |
Re: CBN Raises MPR To 13% From 11.5% by slydog(m): 3:19pm On May 24, 2022 |
Built2last: The economy is growing now, businesses have returned to normal, however inflation is now a problem, it's a double edged sword, there is a level of inflation that's good for economic growth, but after that level it's detrimental to growth. This policy increase is long over due, and before the elections proper, it will be increased again due to excessive inflow of cash into the economy by these politicians. 1 Like |
Re: CBN Raises MPR To 13% From 11.5% by IamANigerianMan: 3:25pm On May 24, 2022 |
This Emefele is mad |
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